Tools
·
Business & entity
Entity Returns — 1120-S & 1065
★ PRO
Schedule K-1
Entity type
S-corporation — Form 1120-S
Partnership / LLC — Form 1065
Income
Gross receipts or sales
$
Returns & allowances
$
Cost of goods sold
$
Other income
$
Deductions
Officer compensation (reasonable comp)
$
Guaranteed payments to partners
$
Salaries & wages (non-owner W-2)
$
Rents
$
Taxes & licenses
$
Interest
$
Repairs & maintenance
$
Depreciation (MACRS, not §179)
$
Advertising
$
Employee benefit programs
$
Other deductions
$
Section 179 expense (separately stated on K-1)
$
Owners & ownership %
+ Add owner
Build the return
📄 K-1 allocation worksheet
Ordinary business income (loss)
Per-owner Schedule K-1
How a pass-through return works
Owner name
%
Guaranteed pmt
$
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